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Cabarrus County Schools warn of tight margins as state budget delay, transportation funding change hit finances
Summary
Cabarrus County Schools presented a midyear budget update saying it ended FY24–25 with a minimal fund balance, aims to rebuild to a 4% reserve, and faces timing and cost pressures from a delayed state budget, a change in state transportation funding (an estimated $700,000–$800,000 timing shortfall), growth in exceptional-children costs, and irregular Medicaid reimbursements.
Phil Penn, speaking for the Cabarrus County school system, told county commissioners at their work session that the district closed FY24–25 with a minimal fund balance and is focused on rebuilding reserves to a 4% level tied to board policy.
Penn said several revenue items are trending positively — fines and forfeitures and interest on deposits have surprised to the upside — and that overall expenses are tracking close to projections. But he warned of mounting pressures: the state has not adopted a final budget for the current cycle, and the state unexpectedly used FY23–24 data rather than FY24–25 to calculate transportation funding. "That's probably a $700,000 or $800,000 swing," Penn said, describing it as a…
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